Point Blank Enterprises Acquires the Assets of The Protective Group, Inc.

Published 9:00 AM ET Mon, 2 Nov 2015
Globe Newswire

POMPANO BEACH, Fla., Nov. 02, 2015 (GLOBE NEWSWIRE) -- Point Blank Enterprises (“Point Blank” or “PBE”), the worldwide leader in the production of soft body armor and related protective solutions, announced today that it has successfully completed its acquisition of certain assets of The Protective Group, Inc. (“TPG”), a ballistic armor manufacturer and systems integrator based in Miami Lakes, FL.

Commenting on the TPG acquisition, Daniel Gaston, Chief Executive Officer of Point Blank Enterprises, Inc. stated, “The acquisition of TPG further strengthens our product and technology portfolio in personnel body armor protection, while adding new capabilities in the areas of engineering and systems integration for both aircraft and vehicular armor. Our businesses have complementary assets and sell to many of the same branches of the U.S. Military. We are delighted to bring The Protective Group into our organization and look forward to working with its team to leverage our joint portfolios and skillsets, while providing those in combat with the greatest protection possible.”

Founded in 1971, TPG has been developing lightweight composite armor solutions that have been deployed by all branches of the U.S. Military, including the Army, Special Operations Forces, Marine Corps, Navy and Air Force, as well as international armed forces around the world. TPG’s products span the gamut – from body armor systems to aircraft and vehicular armor – providing Warfighters with the best protection possible. Within body armor, TPG manufactures and supplies the U.S. Military with diverse hard armor offerings, including SAPI, ESAPI and XSAPI plates, as well as National Institute of Justice (“NIJ”) Level III and Level IV plates for Law Enforcement.

Since 2001, TPG has also supplied aircraft armor to the U.S. Army Special Operations Command (USASOC) and today, their Ballistic Protection System (“BPS”) protects over 90% of the Department of Defense’s rotary wing fleet, with over 2,000 BPS systems delivered to the Iraqi and Afghani theaters. Additionally, TPG has a growing presence in vehicular armor, producing lower weight vehicular armor kits for several military vehicles, including the Bradley, Patriot, Expeditionary Fighting Vehicle, and MRAP. Combining its products with its systems integration capabilities, such as rapid digitalization/scanning, 3D modeling, ground vehicle and aviation platforms, TPG works closely with the Department of Defense and its prime customers to develop survivability solutions for America’s Warfighters and its allies.

Lex Watson, Vice President of Point Blank’s Hard Armor division added, “We are very excited about this strategic acquisition of TPG and look forward to the growth it will bring for our Company and the added protection for our customers. It remains our honor to serve the U.S. Military and law enforcement communities, and the advanced capabilities through TPG will enhance our ability to provide our customers with the highest performing products, while expediting development initiatives for next generation solutions.”

About Point Blank Enterprises, Inc.Point Blank Enterprises, Inc. (“PBEI”) is a leading provider of high performance protective solutions, including bullet, fragmentation and stab resistant apparel and related accessories. Through its key brands, Point Blank Body Armor, Protective Apparel Corporation of America (PACA), Protective Products and PARACLETE®, the Company ranks as the largest global supplier of ballistic and soft armor systems in the world. The Company’s ballistic solutions have been credited with saving countless lives for the most important customers in the world, including the U.S. Armed Forces, Department of Defense, Federal Government and law enforcement, corrections and security personnel, both domestically and abroad. For more information on our Company, please visit our website at www.pointblankenterprises.com.